Confidence interval for the average value of all works

Reference no: EM131372496

An art dealer wants to estimate the average value of works of art of a certain period and type.

A random sample of 20 works of art is appraised. The sample mean is found to be $5,139 and the sample standard deviation $640. Give a 95% confidence interval for the average value of all works of art of this kind.

Reference no: EM131372496

Questions Cloud

Discuss perspectives for the comparative study of employment : Rubery and Grimshaw (2003) distinguish three perspectives for the comparative study of employment relations. Introduce these perspectives and discuss how successful each of these perspectives is in explaining (1) international differences in emplo..

What needs to be changed to add new filter to image viewer : Add a mirror filter that flips the image horizontally. The pixel at the top left corner will move to the top right, and vice versa, producing the effect of viewing the image in a mirror.

Prospect of a global culture : Please answer the following question on culture, do you think that a global culture is emerging? Do you think the prospect of a global culture is a good or bad thing? Why/why not? answers should be at least 3 paragraph.

Identify one of the theories as the most plausible : After summarizing at least two scholarly theories, identify one of the theories as the most plausible and provide at least two convincing reasons why the theory you have chosen is the best one to explain the mystery.

Confidence interval for the average value of all works : A random sample of 20 works of art is appraised. The sample mean is found to be $5,139 and the sample standard deviation $640. Give a 95% confidence interval for the average value of all works of art of this kind.

Significant oversupply of hospital : With significant oversupply of hospital beds in the United States, what is the rationale for taxpayer support of the separate and costly hospital system of the Department of Veterans Affairs?

Confidence interval for average number of year of experience : A random sample of 28 executives gives x‾= 6.7 years and s = 2.4 years.- Give a 99% confidence interval for the average number of years of experience for all executives in this branch.

Explain the accident rates in the data table : Explain the accident rates in the data table in terms of absolute numbers and in terms of population ratios - Be careful to use age-specific denominators. Has the overall number of accidents in Centervale increased?

Discuss the primary manner in which the concepts of course : Discuss the primary manner in which the concepts of this course can be applied to your current or future work position. Rate the three (3) most important concepts that you have learned in this course in order of importance (one [1] being the most imp..

User Account

All Pages